# Profit and Loss Questions

**FACTS AND FORMULAE FOR PROFIT AND LOSS QUESTIONS**

**Selling Price (SP) :*** *The price at which the shopkeeper sells the goods is called the selling price (SP) of the goods sold by the shopkeeper.

**Profit :*** *If the selling price of an article is more than its cost price, then the dealer (or shopkeeper) makes a profit (or gain)

i.e Profit = SP - CP; SP > CP

**Loss :*** *If the selling price of an article is less than its cost price, then the dealer suffers a loss.

i.e loss = CP - SP; CP > SP

**IMPORTANT FORMULAE**

**1. **Profit percentage =

**2. **Loss percentage =

**3. **

**4. **

**5. **If an article is sold at a gain of say 35%, then SP = 135% of CP

**6. **If an article is sold at a loss of say 35%, then SP = 65% of CP

**7. **When a person sells two similar items, one at a gain of say x%, and the other at a loss of x%, then the seller always incurs a loss given by :

**8. **If a trader Professes to sell his goods at cost price, but uses false weihts, then

%

A) 116% | B) 166.66% |

C) 60% | D) 100% |

Explanation:

Let the cost price of 1 litre pure milk be Re.1, then

and 8 litre mixture SP 8 x 2 = Rs.16

Profit %= %

A) No profit, no loss | B) 5% |

C) 8% | D) 10% |

Explanation:

C.P. of 56 kg rice = Rs. (26 x 20 + 30 x 36) = Rs. (520 + 1080) = Rs. 1600.

S.P. of 56 kg rice = Rs. (56 x 30) = Rs. 1680.

Gain =% = 5%

A) 16 | B) 18 |

C) 20 | D) 22 |

Explanation:

Let S.P. of 45 lemons be Rs. x.

Then, 80 : 40 = 120 : x or x = = 60

For Rs.60, lemons sold = 45

For Rs.24, lemons sold == 18.

A) 20% | B) 21% |

C) 22% | D) 23% |

A) 15 | B) 16 |

C) 18 | D) 25 |

Explanation:

Let C.P. of each article be Re. 1 C.P. of *x* articles = Rs. *x*.

S.P. of *x* articles = Rs. 20.

Profit = Rs. (20 - *x*).

2000 - 100*x* = 25*x*

125x=2000

x=16